Dr. Olasupo Olusi, the Managing Director and CEO of the Bank of Industry (BoI) Limited, has emphasized the potential of youth-led industrialization, driven by innovation and entrepreneurship, to create jobs, promote sustainable development, and empower Nigeria’s economy.
In a lecture at Obafemi Awolowo University (OAU), Olusi explored the connection between youth innovation, entrepreneurship, and Nigeria’s path to industrialization. He highlighted the challenges and opportunities facing Nigerian youth and the industrial sector, advocating for a shift from a narrative of limitation to one of limitless potential.
Olusi pointed out that Nigeria’s current industrialization level is inadequate, with manufacturing contributing only 8.6% to the GDP, compared to much higher percentages in other countries. He noted that past efforts to stimulate industrial growth have been slow, leaving Nigeria dependent on commodities like oil.
However, he articulated a vision for Nigeria to embrace smart manufacturing and technology, integrating digital innovation and sustainability into its industrial policy. Olusi also celebrated the growing number of young entrepreneurs who are actively transforming Nigeria’s economic landscape.
